Acorn Creek Capital LLC Has $3.63 Million Position in Apple Inc. (NASDAQ:AAPL)

Acorn Creek Capital LLC lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,220 shares of the iPhone maker’s stock after purchasing an additional 645 shares during the period. Apple accounts for 2.2% of Acorn Creek Capital LLC’s portfolio, making the stock its 12th largest holding. Acorn Creek Capital LLC’s holdings in Apple were worth $3,627,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Yeomans Consulting Group Inc. bought a new stake in shares of Apple during the 4th quarter worth about $1,713,000. Raleigh Capital Management Inc. boosted its holdings in shares of Apple by 11.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 15,511 shares of the iPhone maker’s stock worth $2,986,000 after buying an additional 1,643 shares during the period. GLOBALT Investments LLC GA bought a new stake in shares of Apple during the 4th quarter worth about $38,406,000. Barden Capital Management Inc. boosted its holdings in shares of Apple by 132.8% during the 4th quarter. Barden Capital Management Inc. now owns 32,636 shares of the iPhone maker’s stock worth $6,283,000 after buying an additional 18,615 shares during the period. Finally, Sunpointe LLC bought a new stake in shares of Apple during the 4th quarter worth about $4,782,000. 60.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Raymond James lifted their target price on shares of Apple from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Erste Group Bank raised shares of Apple from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Tigress Financial boosted their price objective on shares of Apple from $245.00 to $295.00 and gave the company a “strong-buy” rating in a report on Wednesday, August 28th. Loop Capital raised shares of Apple from a “hold” rating to a “buy” rating and boosted their price objective for the company from $170.00 to $300.00 in a report on Monday, July 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $225.00 price objective on shares of Apple in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Apple currently has an average rating of “Moderate Buy” and an average target price of $239.17.

Insider Activity

In other news, SVP Katherine L. Adams sold 100,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $206.44, for a total value of $20,644,000.00. Following the sale, the senior vice president now directly owns 191,543 shares of the company’s stock, valued at approximately $39,542,136.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Chris Kondo sold 8,706 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $225.00, for a total transaction of $1,958,850.00. Following the transaction, the insider now directly owns 15,419 shares of the company’s stock, valued at $3,469,275. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Katherine L. Adams sold 100,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $206.44, for a total transaction of $20,644,000.00. Following the transaction, the senior vice president now directly owns 191,543 shares in the company, valued at $39,542,136.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,884 shares of company stock valued at $23,723,887. 0.06% of the stock is currently owned by insiders.

Apple Price Performance

AAPL stock opened at $216.32 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.95 and a quick ratio of 0.91. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $237.23. The company has a 50 day simple moving average of $222.91 and a 200 day simple moving average of $199.00. The stock has a market cap of $3.32 trillion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 2.62 and a beta of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, August 1st. The iPhone maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. Apple had a net margin of 26.44% and a return on equity of 147.15%. The firm had revenue of $85.78 billion during the quarter, compared to analysts’ expectations of $84.43 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Research analysts anticipate that Apple Inc. will post 6.7 EPS for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, August 12th. Apple’s dividend payout ratio (DPR) is currently 15.55%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.